Electric Bus Startup Arrival Jumps on the SPAC IPO Bandwagon

By

Nov. 19 2020, Updated 9:38 a.m. ET

There's been a frenzy for EV (electric vehicle) stocks this year, and many EV companies have gone public. Some of them have listed through a SPAC (special purpose acquisition company), including electric bus startup Arrival. When is Arrival's SPAC IPO date and how can you invest in the company? 

Article continues below advertisement

This year, SPACs have raised over $54 billion from U.S. markets, according to Refinitiv. EV stocks Nikola, Fisker, and Lordstown have already gone for an IPO through the SPAC route, and Canoo and battery startup QuantumScape have had reverse mergers and are expected to IPO soon. Now, U.K.-based EV company Arrival is also going public through a SPAC.

Article continues below advertisement

What is the Arrival electric bus?

Arrival, founded in 2015, aims to make cities cleaner and efficient. It produces the Arrival Bus, the Arrival Van, and digital products. The Arrival Bus has a modular design that can be tailored according to the city's needs. 

Rivian, which is backed by Amazon, competes with Arrival. Earlier this month, Rivian opened pre-orders for two of its models. However, since Rivian is a privately held company, you can’t invest in it.

Article continues below advertisement

Blank-check company CIIG

Arrival is going public through a reverse merger with blank-check company CIIG Merger Corporation. CIIG was set up by Peter Cuneo, former CEO of Remington and Marvel. Cuneo is joining Arrival’s board as a non-executive chairman.

Article continues below advertisement

When will Arrival IPO?

The merger with CIIG values Arrival at around $5.4 billion, and the company hopes to raise about $660 million in the transaction. CIIG and Arrival expect their merger to complete in the first half of 2021, and then to hold an IPO. Arrival, currently among the top 10 most valuable private companies in the U.K., will list on the Nasdaq under the ticker symbol “ARVL” 

Article continues below advertisement

How to invest in the Arrival electric bus

You can invest in the Arrival IPO through a brokerage account. You'll need to transfer funds to the account and then place the order for the Arrival IPO.

Special purpose acquisition company list 2020

Apart from the EV companies, many others have opted for SPACs this year. These include:

Advertisement

More From Market Realist

  • 23andMe test kits
    Investments & Deals
    Why 23andMe SPAC Could Go Public Any Day Now
  • REE CEO and co-founder Daniel Barel with a REE EV platform.
    News
    REE Automotive Will Be Publicly Traded After SPAC Merger
  • Lance Bass
    Investments & Deals
    Lance Bass Joins Unicorn Hunters, Seeks $1 Billion Company
  • Wind turbines and a rainbow
    Investments & Deals
    This Earth Day, Learn How to Find Eco-Friendly Investments
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.